Title: AN ACT TO AMEND SECTION 27-69-13, MISSISSIPPI CODE OF 1972, TO INCREASE THE EXCISE TAX ON CIGARETTES, TO PROVIDE THAT THERE SHALL BE A DISCOUNT OF 1% ON THE ADDITIONAL FACE VALUE OF STAMPS PURCHASED TO COMPLY WITH SUCH INCREASE AND TO REMOVE THE TAXATION OF SNUFF AND OTHER TOBACCO PRODUCTS FROM THE SECTION OF LAW THAT LEVIES THE EXCISE TAX ON DEALERS IN CIGARETTES; TO CREATE NEW SECTION 27-69-13.1, MISSISSIPPI CODE OF 1972, TO LEVY THE EXCISE TAX ON DEALERS IN SNUFF; TO CREATE NEW SECTION 27-69-13.2, MISSISSIPPI CODE OF 1972, TO LEVY THE EXCISE TAX ON DEALERS IN CIGARS, STOGIES, CHEWING TOBACCO, SMOKING TOBACCO AND ALL OTHER TOBACCO PRODUCTS, EXCEPT CIGARETTES AND SNUFF; TO CREATE THE MUNICIPAL SALES TAX DIVERSION FUND AND REQUIRE THAT MONEY IN THE FUND BE DISTRIBUTED MONTHLY TO MUNICIPALITIES IN THE PROPORTION THAT SALES TAX COLLECTIONS FOR GROCERIES DURING THE PRECEDING MONTH IN EACH MUNICIPALITY BEAR TO THE TOTAL SALES TAX COLLECTIONS FOR GROCERIES DURING THE PRECEDING MONTH IN ALL THE MUNICIPALITIES OF THE STATE; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT A PORTION OF THE SALES TAX REVENUE COLLECTED EACH MONTH TO BE DEPOSITED IN THE MUNICIPAL SALES TAX DIVERSION FUND, THE EDUCATION ENHANCEMENT FUND AND THE SCHOOL AD VALOREM TAX REDUCTION FUND; TO AMEND SECTIONS 27-69-27 AND 27-69-31, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO CREATE A NEW SECTION 27-65-26, MISSISSIPPI CODE OF 1972, TO IMPOSE A SEPARATE SALES TAX LEVY ON RETAIL SALES OF CERTAIN FOOD FOR HUMAN CONSUMPTION AND TO REDUCE THE SALES TAX RATE ON SUCH FOOD EACH FISCAL YEAR THROUGH JULY 1, 2014; TO AMEND SECTION 27-65-17, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 27-65-111, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM SALES TAXATION, EFFECTIVE JULY 1, 2014, RETAIL SALES OF CERTAIN FOOD FOR HUMAN CONSUMPTION; AND FOR RELATED PURPOSES.

Information pertaining to this measure was last updated on 02/22/06 at 17:39.